01 Feb 2021 / 20:15 H.
(Recasts with comments from non-Japanese companies)
By Ritsuko Ando and Sam Nussey
TOKYO, Feb 1 (Reuters) - Foreign companies from Japanese retail giant Aeon to South Korean trading firm POSCO International and Norway s Telenor scrambled to assess the turmoil in Myanmar on Monday after a coup in the country once feted as Southeast Asia s last big frontier.
The Myanmar military seized power against the democratically elected government of Aung San Suu Kyi, who was detained along with other leaders of her party in early morning raids.
Major multinational firms including Japan s Kirin Holdings have pushed into Myanmar since Suu Kyi s party won a landslide election in 2015 and established the first civilian government in half a century.
Feb 2, 2021
Suzuki Motor Corp. said Tuesday it has halted production at its two auto plants in Myanmar to ensure the safety of its employees following a military coup the previous day, as other Japanese companies from retail giant Aeon Co. to auto-parts maker Denso Corp. were scrambling to assess the situation.
Suzuki said it stopped output on Monday afternoon at its factories in Yangon where 400 employees work.
Suzuki has a 60% share of new car sales in Myanmar, having sold 13,200 units in 2019. The company said it has yet to decide on when to resume production.
The Myanmar military on Monday seized power from the democratically elected government of Aung San Suu Kyi, who was detained along with other leaders of her party in early morning raids.
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Foreign companies scramble to assess fall-out in Myanmar after coup
Myanmar protesters residing in Japan hold photos of Aung San Suu Kyi as they rally against Myanmar s military in Tokyo, Japan, Feb 1, 2021. (Photo: Reuters)
01 Feb 2021 06:57PM (Updated:
01 Feb 2021 09:35PM) Share this content
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TOKYO: Foreign companies from Japanese retail giant Aeon to South Korean trading firm POSCO International and Norway s Telenor scrambled to assess the turmoil in Myanmar on Monday (Feb 1) after a coup in the country once feted as Southeast Asia s last big frontier.
The Myanmar military seized power against the democratically elected government of Aung San Suu Kyi, who was detained along with other leaders of her party in early morning raids.
01 Feb 2021 / 21:11 H.
(Refiles to fix typo in final paragraph)
By Ritsuko Ando and Sam Nussey
TOKYO, Feb 1 (Reuters) - Japanese companies from retail giant Aeon Co to auto-parts maker Denso Corp scrambled to assess the turmoil in Myanmar on Monday after a coup in the country once feted as Southeast Asia s last big frontier.
The Myanmar military seized power against the democratically elected government of Aung San Suu Kyi, who was detained along with other leaders of her party in early morning raids.
Major Japanese firms including Kirin Holdings have pushed into Myanmar since Suu Kyi s party won a landslide election in 2015 and established the first civilian government in half a century.
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